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I cashed out of my pension at 28 – and now regret it
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Posted: 08 February 2011 12:31:44(UTC)
#22

Joined: 16/07/2008(UTC)
Posts: 67
A legal requirement regarding pensions left with a company used to be that the pension was increased annually in line with inflation not exceeding a given amount.

Check it out..
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Derek Potter
Posted: 08 February 2011 19:13:19(UTC)
#24

Joined: 25/11/2010(UTC)
Posts: 19
Unless you were paying into it out of taxed income (surely you had tax relief?) the "hefty wad" of tax you payed was only the tax you had avoided while saving for your travels. Anyway, tax works the other way too. If you still have cold feet about spending your own money you can live frugally for a couple of years and dump a big chunk of your earnings into a pension and get the tax back that way.


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